According to a new market report
published by Transparency Market Research "Ophthalmic
Drugs Market (Dry eye, Anti-glaucoma, Anti allergy/ inflammatory/ infective,
Retinal Drugs) - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2013 - 2018" the global ophthalmic drugs market was valued
at USD 16 billion in 2012 and is expected to grow at a CAGR of 5.2% from 2013
to 2018, to reach an estimated value of USD 21.6 billion in 2018.

Globally, the ophthalmic drugs
market is witnessing significant growth due to increasing prevalence of eye
disorders such as diabetic retinopathy and macular degeneration. As a result,
this market is expected to grow at a CAGR of about 5.2% during 2013 - 2018.

Some of the key driving factors for
the ophthalmic drugs market are rising prevalence of global aging population,
increasing government initiatives towards healthcare infrastructure in
developing countries (such as India and China), technological changes in drug
delivery technique, and increasing prevalence of lifestyle associated diseases.
However, the market faces some restraints such as lack of awareness among
people regarding eye disorders, drying pipeline of ophthalmic drugs, patent
expiration of blockbuster ophthalmic drugs and absence of health insurance in
developing countries.

North America, including the US has
the largest ophthalmic drugs market. Asia is the fastest growing ophthalmic
drugs market. Some of the fastest growing markets for ophthalmic drugs are
China, India, other countries in South East Asia and the Eastern Mediterranean.
As per WHO estimates in 2010, in the next nine years, the number of blind
people aged 50 years and above will grow in these regions, thereby increasing
the demand for ophthalmic drugs. On the other hand, in developed regions such
as North America and Western Europe, rising efforts towards prevention of
blindness among the aging population has emerged as a key driver for the
market.

Glaucoma has the largest market
share in the ophthalmic drugs market and it is expected to grow at a CAGR of
about 4.2% during 2013 - 2018. Various ophthalmic drug companies are increasing
their focus on combination therapy, which involves use of more than one
medication for specific retinal disorders. Most of these combination therapies
are used as first line treatment in patients with high level of intraocular
pressure. Combination therapy has various advantages over traditional
medication such as reduced frequency of eye drop application, improved patient
compliance and efficacy.

Novartis (Alcon) is the leading
player in the global ophthalmic drugs market while other major players include
Allergan, Santen, Pfizer, Merck and Roche.